President Bola Tinubu on Thursday signed into law four tax reform bills on key areas of Nigeria’s fiscal and revenue framework. The bills passed by the National Assembly were signed during a ceremony held at the Aso Rock Presidential Villa, Abuja. The government has announced that the implementation of the new tax laws will commence…
President Bola Tinubu has on Thursday signed the four tax reform bills recently passed by the National Assembly into law. Tinubu gave the presidential assent to the bills during a short ceremony at the Presidential Villa, attended by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President. The…
President Bola Tinubu will, on Thursday, sign into law four tax reform bills that will “transform Nigeria’s fiscal and revenue framework,” the Presidency has revealed. Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement he signed Wednesday evening titled, ‘President Tinubu signs four tax bills into law tomorrow.’…
The four tax reform bills submitted by President Bola Ahmed Tinubu in October 2024 are now ready for presidential assent following the harmonisation of the versions of the bills passed by both chambers of the National Assembly. At plenary on Wednesday, the House of Representatives considered the report of the conference committee, which harmonised the…
The Senate has passed two out of four major tax reform bills proposed by President Bola Tinubu. However, the upper chamber rejected a proposal to increase the value-added tax (VAT) to 10 percent, opting to retain the current rate at 7.5 percent. The bill allows VAT input claims on fixed assets, overhead costs and administrative…
The House of Representatives on Tuesday passed the four tax reform bills transmitted to the National Assembly in October 2024 by President Bola Tinubu. The bills are “A Bill for an Act to Provide for the Assessment, Collection of, and Accounting for Revenue Accruing to the Federation, Federal, States and Local Governments; Prescribe the Powers…
The House of Representatives on Thursday approved the tax reform bills forwarded by President Bola Tinubu to the National Assembly. The bills include the Nigerian Tax Bill, the Tax Administration Bill, the Revenue Tax Board Bill, and the Nigerian Revenue Service Establishment Bill. This followed clause by clause consideration of all relevant amendments on the…
The four tax reform bills transmitted to the National Assembly in 2024 by President Bola Tinubu have scaled second reading at the House of Representatives. The bills scaled second reading on the floor of the Green Chamber on Wednesday six months after the President transmitted them to the National Assembly for consideration following the recommendations…
The Nigeria Governors’ Forum (NGF) has finally thrown its weight behind the proposed tax reform bills currently at the national assembly. In a statement on Thursday, the group proposed an “equitable” sharing formula for value-added tax (VAT). The development was an outcome of a meeting between the NGF and the presidential tax reform committee, convened…
Strong indications emerged on Monday that the Senate is on the verge of holding a public hearing on the Tax Reform Bills, with the aim of presenting them for a third reading and eventual passage. This development was confirmed following a closed-door session of the Senate Ad-hoc committee and key government officials, including the Attorney…